Aerospace Parts Manufacturing Market is to grow at a 6.5 % CAGR, is reported by Maximize Market Research

Aerospace Parts Manufacturing Market is projected to a value of USD 1.79 Billion by 2032. The demand for lightweight and fuel-efficient aircraft as well as the next-gen aircraft is driving the market growth. Sustainable and cost-effective manufacturing processes are becoming the norm, and industry leaders are channeling their resources into these advancements.

Market to Hit USD 1.79 Bn by 2032

Aerospace Parts Manufacturing Market was USD 1.31 Bn in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 4% from 2025 to 2032, reaching USD 1.79 Bn by 2032. Europe Aerospace Parts Manufacturing Market size was valued at USD 273.95 billion in 2022 and is projected to reach USD 403.79 billion by 2030, growing at a CAGR of 5% during the forecast period. The widening percolation of the market is instigated by some of the key growth propeters, such as technological advancements, rise in fleet replacement demand, and the rise in collaborations between the fuelling Goliaths. U.S. is the leader in North America, making over 35% of all parts manufactured in the global aerospace industry. Key players include Boeing, Lockheed Martin, Raytheon Technologies and Safran. Boeing predicted a need for 19,330 planes, up 5.5%.

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Market Segmentation

By Product: Aircraft manufacturing segment is expected to register the largest Aerospace Parts Manufacturing Market size of more than 40% of the overall market share in 2024. Demand for air travel around the world is surging, and government investment in defense aviation is on the rise, driving production.

By End Use:  Commercial aircraft segment has a dominant presence and accounted for more than 55% of the total Aerospace Parts Manufacturing Market share in 2024. The increase in passenger air travel, especially in developing countries such as China and India, makes doing demand. International flights are projected to be 50% below pre-pandemic levels in 2025.

Market Regional Analysis

North America, U.S. leads the overall market, accounting for over 35% share of total aerospace manufacturing revenue. Boeing, Lockheed Martin, and Raytheon Technologies lead market innovation; government contracts increase military aircraft production. In 2024, aerospace products worth USD 148 billion were exported by the U.S.

Europe, with a dominant share by Airbus, Rolls-Royce, and Safran. Airbus must boost production, especially in Germany and France, to keep up with rising demand in those regions. Aerospace R&D investments for 2024 are up 12% due to some next-gen technology efforts at the European Space Research and Technology Centre (ESTEC).

Asia-Pacific, China’s COMAC C919 is approaching over 1,200 orders in a challenge to Boeing and Airbus. India’s aerospace sector stands to gain from such programs, such as “Make in India” which is led by the government, and whose market is expected to grow at 6%. Regional growth driven by rising demand for aircraft and indigenous production capabilities

Market Competitive Landscape

Boeing (Revenue: USD 76 billion, 2024): Expanding production of 737 Max to meet increasing demand.

Airbus (Revenue: USD 79 billion, 2024): Strengthening presence in Asia-Pacific with new manufacturing facilities in China. In March, Airbus delivered approximately 70 aircraft, reflecting an 11% increase compared to the same month last year.

Lockheed Martin (Revenue: USD 67 billion, 2024): Leading in defense aviation, securing USD 12 billion in new contracts.

Raytheon Technologies (Revenue: USD 64 billion, 2024): Advancing avionics and AI-driven aircraft systems, investing USD 2 billion in R&D.

Market Latest Trends and Developments

• Airbus’s E-Fan X project leads the hybrid-electric propulsion research, with plans to achieve a 50% reduction in fuel consumption by 2035.
• Boeing incorporates AI-powered predictive maintenance systems, leading to a 30% decrease in downtime.
• More use of carbon fiber in aircraft structures, a further 15% improvement in fuel economy.
• A $50 billion UAV market fueled by military surveillance and bodily commercial applications.
• The production of intricate aerospace parts, quicker and cost-effective with 40% lead time reduction.

Conclusion

• The leaders here are the U.S., which garners more than 35% of global aerospace revenue through defense contracts and the production of commercial airframes.
• Electrification, AI-powered maintenance, 3D printing, and composite materials are redefining the aerospace factory.
• These go-getters involve Boeing, Airbus, Lockheed Martin, Raytheon, etc, whose R&D spending and production investment jump off the page.
• Fuel-efficient, next-gen aircraft and UAV market global demand over the forecast period ensures healthy growth.

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